Indiana Trust & Investment Management Co Decreases Position in FedEx Co. (NYSE:FDX)

Indiana Trust & Investment Management Co trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 7.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 796 shares of the shipping service provider’s stock after selling 65 shares during the period. Indiana Trust & Investment Management Co’s holdings in FedEx were worth $224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the last quarter. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Peoples Financial Services CORP. bought a new stake in FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the fourth quarter worth approximately $29,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FDX shares. Citigroup upped their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. TD Cowen upped their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Price Performance

Shares of FDX opened at $261.30 on Wednesday. The company has a market capitalization of $62.93 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $273.81 and a 200 day moving average of $279.95.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $3.99 EPS. As a group, equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s payout ratio is presently 35.18%.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.